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RBS yesterday said it had frozen the bonuses of 18 individuals and added that no one suspected of being involved in wrongdoing would receive a pay-out until its review is completed.

The high street giant said it had also identified a number of supervisors and senior management from the forex business whose ‘responsibilities and accountabilities’ were being considered.

But it said that just six employees had been placed into a disciplinary process so far, with three of them suspended.

This is unchanged from its announcement last month.

RBS yesterday said it had frozen the bonuses of 18 individuals and added that no one suspected of being involved in wrongdoing would receive a pay-out until its review is completed

Jon Pain, head of conduct and regulatory affairs at RBS, said: ‘This is a complicated process but also an essential one in order to identify culpability and accountability for this unacceptable misconduct.’

He added: ‘There is no place for any misconduct at the RBS we are building. We want to get these things settled so we can put these issues behind us and get on with rebuilding trust in this bank.’

Last week a former RBS trader was arrested at his home in Billericay, Essex – becoming the first to be snared by the Serious Fraud Office for his alleged involvement in the forex scam.

The update from RBS comes after the Chancellor confirmed that manipulating foreign currency rates, as well as other markets such as oil and gold, will become a criminal offence carrying a jail sentence of up to seven years.